Bill Text: NY A03592 | 2019-2020 | General Assembly | Introduced
Bill Title: Establishes a tax credit for the installation of electrical outlets for charging electric cars in certain parking garages owned by condominium management associations or cooperative housing corporations.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-01-08 - referred to ways and means [A03592 Detail]
Download: New_York-2019-A03592-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3592 2019-2020 Regular Sessions IN ASSEMBLY January 29, 2019 ___________ Introduced by M. of A. DINOWITZ -- read once and referred to the Commit- tee on Ways and Means AN ACT to amend the tax law, in relation to establishing a tax credit for condominium and cooperative apartment owners that install elec- trical outlets for charging electric cars in certain parking garages The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 210-B of the tax law is amended by adding a new 2 subdivision 53 to read as follows: 3 53. Credit for electrical outlets for charging electric cars in 4 certain parking garages. (a) A taxpayer shall be allowed a credit for 5 taxable years beginning on or after January first, two thousand twenty 6 and ending before December thirty-first, two thousand twenty-four 7 against the tax imposed by this article for the purchase and installa- 8 tion of electrical outlets for charging electric cars in the parking 9 garage owned by a condominium management association or a cooperative 10 housing corporation, if such condominium or cooperative housing is 11 located within this state. Any taxpayer who is a member of the condomin- 12 ium management association or who is a tenant-stockholder in the cooper- 13 ative housing corporation may for the purpose of this subdivision claim 14 a proportionate share of the total expense as the expenditure for the 15 purposes of the credit attributable to his principal residence, if such 16 residence is located within the state. The total amount of the credit 17 shall be fifty-five percent of the expenditure incurred in purchasing 18 and installing any such system or combination thereof, but not to exceed 19 the maximum credit of five thousand dollars. 20 (b) For the purposes of this subdivision, the following terms shall 21 have the following meanings: 22 (i) "electric cars" shall mean motor vehicles, as defined by section 23 one hundred twenty-five of the vehicle and traffic law, which are 24 propelled by electric motors using electric energy stored in batteries EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00768-01-9A. 3592 2 1 or other energy storage devices. For the purposes of this subdivision, 2 "electric cars" shall not include electric personal assistive mobility 3 devices as defined by section one hundred fourteen-d of the vehicle and 4 traffic law. 5 (ii) "electrical outlets for charging electric cars" shall include any 6 electrical outlets intended to be used for charging electric cars, 7 including, but not limited to 120-volt outlets, 240-volt outlets and 8 charging stations specifically manufactured for charging electric cars. 9 (c) To the extent that a federal income tax credit shall apply to 10 expenditures eligible for a credit under this subdivision, the credit 11 provided in this subdivision shall be reduced so that the combined cred- 12 it shall not exceed fifty-five percent of such expenditures or seven 13 thousand dollars, whichever is less. 14 (d) If the amount of credit allowable under this subdivision shall 15 exceed the taxpayer's tax for such year, the excess may be carried over 16 to the following year or years and may be deducted from the taxpayer's 17 tax for such year or years. 18 (e) If all or any part of the credit provided for under this subdivi- 19 sion was allowed or carried over from a prior taxable year or years, a 20 taxpayer shall reduce the allowable credit for additional qualifying 21 expenditures in a subsequent tax year by the amount of the credit previ- 22 ously allowed or carried over; provided however that a credit previously 23 allowed or carried over from a prior taxable year or years shall not be 24 taken into account in determining the allowable credit for the purchase 25 and installation of electrical outlets for charging electric cars in a 26 subsequent principal residence. 27 (f) For the purpose of determining the amount of the actual expendi- 28 ture incurred in purchasing and installing electrical outlets for charg- 29 ing electric cars, the amount of any federal, state or local grant 30 received by the taxpayer, which was used for the purchase and/or instal- 31 lation of such system and which was not included in the gross income of 32 the taxpayer, shall not be taken into account. 33 § 2. Section 606 of the tax law is amended by adding a new subsection 34 (g-3) to read as follows: 35 (g-3) Credit for electrical outlets for charging electric cars in 36 certain parking garages. (1) A taxpayer shall be allowed a credit for 37 taxable years beginning on or after January first, two thousand twenty 38 and ending before December thirty-first, two thousand twenty-four 39 against the tax imposed by this article for the purchase and installa- 40 tion of electrical outlets for charging electric cars in the parking 41 garage owned by a condominium management association or a cooperative 42 housing corporation, if such condominium or cooperative housing is 43 located within this state. Any taxpayer who is a member of the condomin- 44 ium management association or who is a tenant-stockholder in the cooper- 45 ative housing corporation may for the purpose of this subsection claim a 46 proportionate share of the total expense as the expenditure for the 47 purposes of the credit attributable to his principal residence, if such 48 residence is located within the state. The total amount of the credit 49 shall be fifty-five percent of the expenditure incurred in purchasing 50 and installing any such system or combination thereof, but not to exceed 51 the maximum credit of five thousand dollars. 52 (2) For the purposes of this subsection, the following terms shall 53 have the following meanings: 54 (i) "electric cars" shall mean motor vehicles, as defined by section 55 one hundred twenty-five of the vehicle and traffic law, which are 56 propelled by electric motors using electric energy stored in batteriesA. 3592 3 1 or other energy storage devices. For the purposes of this subdivision, 2 "electric cars" shall not include electric personal assistive mobility 3 devices as defined by section one hundred fourteen-d of the vehicle and 4 traffic law, 5 (ii) "electrical outlets for charging electric cars" shall include any 6 electrical outlets intended to be used for charging electric cars, 7 including, but not limited to 120-volt outlets, 240-volt outlets and 8 charging stations specifically manufactured for charging electric cars. 9 (3) To the extent that a federal income tax credit shall apply to 10 expenditures eligible for a credit under this subsection, the credit 11 provided in this subsection shall be reduced so that the combined credit 12 shall not exceed fifty-five percent of such expenditures or seven thou- 13 sand dollars, whichever is less. 14 (4) If the amount of credit allowable under this subsection shall 15 exceed the taxpayer's tax for such year, the excess may be carried over 16 to the following year or years and may be deducted from the taxpayer's 17 tax for such year or years. 18 (5) If all or any part of the credit provided for under this 19 subsection was allowed or carried over from a prior taxable year or 20 years, a taxpayer shall reduce the allowable credit for additional qual- 21 ifying expenditures in a subsequent tax year by the amount of the credit 22 previously allowed or carried over; provided however that a credit 23 previously allowed or carried over from a prior taxable year or years 24 shall not be taken into account in determining the allowable credit for 25 the purchase and installation of electrical outlets for charging elec- 26 tric cars in a subsequent principal residence. 27 (6) For the purpose of determining the amount of the actual expendi- 28 ture incurred in purchasing and installing electrical outlets for charg- 29 ing electric cars, the amount of any federal, state or local grant 30 received by the taxpayer, which was used for the purchase and/or instal- 31 lation of such system and which was not included in the gross income of 32 the taxpayer, shall not be taken into account. 33 § 3. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 34 of the tax law is amended by adding a new clause (xliv) to read as 35 follows: 36 (xliv) Credit for Amount of credit 37 electrical outlets for charging under subdivision 38 electric cars in certain fifty-three of section 39 parking garages under subsection two hundred ten-B 40 (g-3) 41 § 4. This act shall take effect on the one hundred twentieth day after 42 it shall have become a law. Effective immediately, the addition, amend- 43 ment and/or repeal of any rule or regulation necessary for the implemen- 44 tation of this act on its effective date are authorized to be made on or 45 before such date.
